SEC submits framework to White House on applying securities laws to crypto assets
The SEC submitted interpretive guidance to the White House on applying securities laws to crypto assets, likely establishing a token taxonomy.Summary
The U.S. Securities and Exchange Commission (SEC) has submitted commission-level interpretive guidance to the White House detailing how federal securities laws apply to certain crypto assets and transactions. Titled "Commission Interpretation on Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets," the document was submitted on March 3 and is undergoing interagency review by the Office of Information and Regulatory Affairs (OIRA).
Reports suggest this guidance focuses on establishing a "token taxonomy" to categorize crypto assets, clarifying which fall under SEC jurisdiction as securities. This clarity is crucial for how crypto firms handle registration, disclosure, operations, and investor engagement, and commission-level guidance is considered more enforceable than staff statements.
This action occurs while legislative efforts for a crypto market structure framework have stalled, partly due to disputes over stablecoin rewards between banks and crypto firms. Separately, the Commodity Futures Trading Commission (CFTC) also submitted a measure on prediction markets to OIRA, signaling an upcoming rulemaking push by CFTC Chairman Michael Selig to set clear standards for these markets.
(Source：The Block)